On equilibrium dynamics with many agents and wages paid ex ante

A model of economic growth with many agents and borrowing constraints is considered under the assumption that wages are paid ex ante. It is shown that, in contrast to the traditional case where wages are paid ex post, the convergence of equilibrium paths to a steady-state equilibrium occurs regardless of specifications of technology.

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Year of publication:	2011-04-21
Authors:	Borissov, Kirill
Institutions:	Department of Economics, European University at St. Petersburg
Subject:	economic growth \| heterogeneous agents \| stability

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Extent:	application/pdf
Series:	EUSP Deparment of Economics Working Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number Ec-05/11 12 pages
Classification:	D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; O41 - One, Two, and Multisector Growth Models ; C61 - Optimization Techniques; Programming Models; Dynamic Analysis
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009003962